Get rate info

Rand Paul threatens to delay Janet Yellen vote

Rand Paul and Janet Yellen are shown. | AP Photos

Paul is threatening to use all 30 hours of debate on Yellen’s nomination. | AP Photos

Sen. Rand Paul plans to delay a vote on Janet Yellen’s nomination to be head of the Federal Reserve unless he gets a vote on his “Audit the Fed” bill — a strategy that is backed by Senate Minority Leader Mitch McConnell.

Senate Majority Leader Harry Reid (D-Nev.) filed cloture on Yellen’s nomination Monday night, and the Senate plans to consider several nominations later this week after dealing with the budget deal and voting on the the defense authorization bill.

Text Size

  • -
  • +
  • reset

In 90 secs: Senate nominations

Paul (R-Ky.) is threatening to use all 30 hours of debate on Yellen’s nomination when it comes to floor, arguing he should be allowed a vote on his legislation.

(QUIZ: Do you know Janet Yellen?)

“We are trying to burn all the time that we can to prevent a vote until after the recess unless we get a vote,” said Brian Darling, Paul’s spokesman. “It’s ridiculous we even have to do this just to get a vote on something.”

McConnell (R-Ky.), who is up for re-election next year, said in a statement Tuesday that he supports Paul’s efforts and opposes Yellen’s nomination “in large part over serious concerns I have about her commitment to the most important job of the central bank—maintaining the purchasing power of the dollar.”

Paul’s bill would expand the ability of the Government Accountability Office to audit Fed activities, including those related to monetary policy. Critics of the proposal, including Yellen, say it could put political pressure on the Fed, threatening the central bank’s independence. Paul and the bill’s other supporters argue it would make the central bank more transparent.

“The confirmation of a new Fed chief is a perfect time for the Senate to scrutinize the recent actions and the historic mission of the Fed,” McConnell said.

The Senate is expected to easily confirm Yellen, the central bank’s current vice chairwoman. She would replace Ben Bernanke, whose term as Fed chair ends Jan. 31.

Paul had earlier threatened to place a hold on Yellen’s nomination unless his bill was put up for a vote, but the recent change to Senate rules that prevents filibusters of most nominees scuttled that plan.

Now he’s using the threat of keeping senators in Washington a little longer before the holiday recess as leverage.

Please see the Comments FAQ if you have any additional questions or email your thoughts to commentsfeedback@politico.com

comments powered by Disqus
Close

Send to a friendRand Paul threatens to delay Janet Yellen vote

  • Please enter your e-mail
    Invalid e-mail
  • Please enter a valid e-mail
    Invalid e-mail
Cancel

POLITICO Presents

Popular on POLITICO

Recommended on Facebook

Wuerking Drawings

View More